Question

In: Economics

Before you started applying for university, a job recruiter offered you a full-time cashier position at...

Before you started applying for university, a job recruiter offered you a full-time cashier position at a department store earning an after-tax salary of $21,000 per year. However, you turn down this offer and attend your first year of university. The additional monetary cost of university to you, including tuition, supplies, and additional housing expenses, is $32,000.

Solutions

Expert Solution

Total opportunity cost of attending college= salary forgone+monetary cost of university

=$21000+$32000

=$53000.

You decided to go to college because you must be getting more satisfaction going college more than having $53000.

You value college more than $53000.


Related Solutions

8. You started a new full-time job a few weeks ago and you just learned that...
8. You started a new full-time job a few weeks ago and you just learned that your family owns part of a business that provides services to your employer. What should you do? Quit your job immediately. Disclose the conflict of interest to your manager. Report the situation to a third-party committee. 9. Which of the following signs indicate weak ethical culture in an organization? Select ALL relevant signs. The company has a channel for employees to report misconduct anonymously....
Speak to a person with a full-time paid position and write a job description for their...
Speak to a person with a full-time paid position and write a job description for their position. Include job title, qualifications (education and skills), job duties (at least 5), job summary and worker specifications. Then go to ONET and find a similar position on that site and provide suggested salary information for your position for the New York City area. Post this information online in the job description forum and provide feedback to one other person's posting.
You just started your first full time job out of college. You recall from your finance...
You just started your first full time job out of college. You recall from your finance course the importance of starting to save early for retirement. You plan on making deposits of $215 per pay check into a stock account and $130 per pay check into a bond account. You are paid every two weeks (26 pay checks per year). It is your plan to make these deposits for the next thirty-years. You expect that you will earn 8.75% per...
You just started your first full time job out of college. You recall from your finance...
You just started your first full time job out of college. You recall from your finance course the importance of starting to save early for retirement. You plan on making deposits of $215 per pay check into a stock account and $130 per pay check into a bond account. You are paid every two weeks (26 pay checks per year). It is your plan to make these deposits for the next thirty-years. You expect that you will earn 8.75% per...
As a soon-to-be college graduate, you will be looking for a full-time job in your field....
As a soon-to-be college graduate, you will be looking for a full-time job in your field. As part of this process, you will need to learn to successfully market yourself. Prepare an outline for your marketing plan. First, list the special problems and challenges associated with marketing people rather than a physical product. Then outline your ideas for each of the four P's.
Below you will find part of a job description for a part-time position in a campus...
Below you will find part of a job description for a part-time position in a campus bookstore. Read each task in the job description and identify those tasks for which training (rather than employee selection techniques) would be appropriate. In the next exercise, you will be asked to determine how to train the employees for each of the tasks you identify. Textbook Clerk Job Summary The Textbook Clerk is a university work-study position. The student hired for this job is...
Your friend who works as a trading analyst in Sydney, Australia is offered a job position...
Your friend who works as a trading analyst in Sydney, Australia is offered a job position in Barcelona, Spain. The wage for the Spanish job is EUR187705 per year. The price level in Spain is EUR12199. The price level for an equivalent basket of goods in Australia is AUD10909. The current spot rate is EUR1.0863/AUD. All else equal, how much does your friend need to earn in Sydney to make her as well off as when she would take the...
You have been able to get a part-time job in a University laboratory. The group is...
You have been able to get a part-time job in a University laboratory. The group is planning a set of experiments to study the forces between nuclei in order to understand the energy output of the Sun. To do this experiment, you shoot alpha particles from a Van de Graaf accelerator at a sheet of lead. The alpha particle is the nucleus of a helium atom and is made of 2 protons and 2 neutrons. The lead nucleus is made...
Ladder diagram image of the full solution before simulation is started.  Testing scenarios with images....
Ladder diagram image of the full solution before simulation is started.  Testing scenarios with images. Here you will show pictures of the LOGO program during simulation of a particular scenario. Write an explanation for each step of the scenario showing why such input sequence causes the output sequence shown. Include images of the LOGO simulation which demonstrate that indeed you have observed these test scenarios.
Asma Jaqqa started a job at the government. Her salary is $105,000 before tax and at...
Asma Jaqqa started a job at the government. Her salary is $105,000 before tax and at the end of this year and all subsequent years her salary will increase by 2.5%. The tax on her income is 30%. Each year-end she deposits 10% of her after tax salary into an RRSP. After 20 years she plans to move to part time, and her pay will drop by 50%. When she drops to 50% pay, her tax rate will drop to...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT